Five companies are suing Alberta for a combined C$10.8 billion, claiming the government’s coal policy reforms have made mining nearly impossible – costing them billions in lost investment and potential revenues, reported The Globe and Mail.
Cabin Ridge Project, Atrum Coal and its subsidiary Elan Coal, Black Eagle Mining, and Montem Resources (recently rebranded as Evolve Power) are the claimants. The case is slated for trial in early 2024.
At the heart of the lawsuit is Alberta’s 1976 Coal Policy, noted The Globe and Mail, which used land categories to protect fragile ecosystems and watersheds flanked by the Rocky Mountains from open-pit coal mines. The government quietly reversed the policy in 2020, but backpedaled last year after public backlash, resulting in the companies being stuck with land they can’t use due to a development moratorium.
Source: The Globe and Mail